Planet Labs PBC (NYSE:PL) Receives $21.88 Average Price Target from Analysts

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $21.8818.

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.40 price target on shares of Planet Labs PBC in a report on Tuesday, January 20th. Citigroup increased their price target on Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Finally, Citizens Jmp downgraded Planet Labs PBC from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st.

Planet Labs PBC Price Performance

Shares of PL stock traded down $0.87 during trading hours on Thursday, reaching $20.78. The company’s stock had a trading volume of 2,078,232 shares, compared to its average volume of 13,160,547. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of -49.61 and a beta of 1.94. The firm’s 50 day simple moving average is $21.69 and its 200-day simple moving average is $14.45.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Wednesday, December 10th. The company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.02. The business had revenue of $81.25 million during the quarter, compared to the consensus estimate of $72.02 million. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.Planet Labs PBC’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. Sell-side analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 150,731 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $27.01, for a total transaction of $4,071,244.31. Following the sale, the chief financial officer directly owned 1,956,101 shares of the company’s stock, valued at $52,834,288.01. The trade was a 7.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kristen Robinson sold 47,835 shares of Planet Labs PBC stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the transaction, the director owned 222,897 shares in the company, valued at approximately $6,009,303.12. This trade represents a 17.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 292,348 shares of company stock valued at $7,323,958 in the last quarter. 17.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently bought and sold shares of PL. AQR Capital Management LLC grew its holdings in Planet Labs PBC by 671.1% during the 1st quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock worth $313,000 after acquiring an additional 80,672 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Planet Labs PBC during the first quarter worth approximately $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Planet Labs PBC by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock worth $442,000 after purchasing an additional 8,143 shares during the period. Goldman Sachs Group Inc. increased its holdings in Planet Labs PBC by 54.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after purchasing an additional 653,173 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Planet Labs PBC in the second quarter valued at approximately $186,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.